ClearPoint Neuro, Inc. (NASDAQ:CLPT) Sees Large Decline in Short Interest

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 653,400 shares, a decrease of 22.1% from the January 15th total of 838,600 shares. Based on an average daily volume of 235,700 shares, the short-interest ratio is currently 2.8 days.

ClearPoint Neuro Stock Performance

Shares of NASDAQ:CLPT opened at $18.32 on Friday. The business has a 50 day moving average price of $16.42 and a 200 day moving average price of $13.20. ClearPoint Neuro has a twelve month low of $5.11 and a twelve month high of $19.22.

Institutional Investors Weigh In On ClearPoint Neuro

Several hedge funds and other institutional investors have recently modified their holdings of CLPT. R Squared Ltd bought a new stake in ClearPoint Neuro in the 4th quarter valued at $32,000. Barclays PLC raised its position in shares of ClearPoint Neuro by 24.3% during the third quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after buying an additional 1,109 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of ClearPoint Neuro in the fourth quarter valued at about $80,000. Tower Research Capital LLC TRC acquired a new stake in ClearPoint Neuro during the fourth quarter worth about $93,000. Finally, JPMorgan Chase & Co. increased its stake in ClearPoint Neuro by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock valued at $110,000 after acquiring an additional 3,612 shares during the period. Institutional investors and hedge funds own 30.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLPT. B. Riley boosted their price target on ClearPoint Neuro from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Lake Street Capital lifted their price target on shares of ClearPoint Neuro from $17.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.